Problem

STATISTICS Sample standard deviation Below are the times (in days) it takes for a sample of 5 customers from Linda's computer store to pay their invoices. \[ 19,27,38,41,40 \] Send data to calculator Find the standard deviation of this sample of times. Round your answer to two decimal places.

Solution

Step 1 :Given the data set of invoice payment times in days: \(19, 27, 38, 41, 40\)

Step 2 :Calculate the mean (average) of the data set: \(\frac{19 + 27 + 38 + 41 + 40}{5} = 33.0\)

Step 3 :Subtract the mean from each data point and square the result: \((19-33)^2, (27-33)^2, (38-33)^2, (41-33)^2, (40-33)^2\) which gives \(196, 36, 25, 64, 49\)

Step 4 :Calculate the mean of these squared differences: \(\frac{196 + 36 + 25 + 64 + 49}{5} = 92.5\)

Step 5 :Take the square root of the result: \(\sqrt{92.5} = 9.62\)

Step 6 :Final Answer: The standard deviation of this sample of times is \(\boxed{9.62}\)

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Source: https://solvelyapp.com/problems/OY9pAsIVNW/

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